Press Releases

The Reserve Bank of India (RBI) has, by an order dated November 17, 2023, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Patan Co-operative Bank Limited, Mumbai, Maharashtra (the bank) for non-compliance with directions issued by RBI on ‘Reserve Bank of India –Know Your Customer (KYC) Direction, 2016’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47 A (1) (c) read with Sections 46 (4) (i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated November 15, 2023, imposed a monetary penalty of ₹10,000/- (Rupees Ten thousand only) on The District Co-operative Central Bank Ltd., Mahabubnagar, Telangana (the bank) for non-compliance with the directions issued by the National Bank for Agriculture and Rural Development (NABARD) on ‘Review of Frauds – Guidelines on Monitoring and Reporting System’ read with ‘Frauds - Guidelines for Classification, Reporting and Monitoring of Frauds’.

Today, the Reserve Bank of India (RBI), vide order dated December 6, 2023, has cancelled the licence of “Urban Co-operative Bank Limited, Sitapur, Uttar Pradesh”. Consequently, the bank ceases to carry on banking business, with effect from the close of business on December 07, 2023. 

The Reserve Bank of India today released the data showing daily merchant and Inter-Bank transactions in foreign exchange for the period November 20 – November 24, 2023. Position Date MERCHANT INTER BANK FCY / INR FCY / FCY FCY / INR FCY / FCY Spot Forward Forward Cancel Spot Forward Forward Cancel Spot Swap

Foreign Exchange Turnover Data: November 13 – November 17, 2023  The Reserve Bank of India today released the data showing daily merchant and Inter-Bank transactions in foreign exchange for the period November 13 – November 17, 2023. All Figures are in USD Millions Position Date MERCHANT  INTER BANK

The Reserve Bank of India today released the data showing daily merchant and Inter-Bank transactions in foreign exchange for the period November 06 – November 10, 2023. All Figures are in USD Millions Position Date MERCHANT INTER BANK FCY / INR FCY / FCY FCY / INR FCY / FCY Spot  Forward Forward Cancel Spot Forward Forward Cancel Spot Swap Forward Spot Swap Forward Purchase  06-11-2023 3,004

The Reserve Bank of India today released the data showing daily merchant and Inter-Bank transactions in foreign exchange for the period October 30 – November 03, 2023. All Figures are in USD Millions Position Date  MERCHANT  INTER BANK FCY / INR FCY / FCY  FCY / INR  FCY / FCY Spot  Forward Forward Cancel Spot Forward Forward Cancel Spot Swap Forward Spot Swap Forward Purchase  30-10-2023 3,633 1,626 964 342 419 523 10,343 17,961 2,493 5,499 2,160 321 31-10-2023 3,575 2,330  718 301

December 07, 2023   Foreign Exchange Turnover Data: October 23 – October 27, 2023  The Reserve Bank of India today released the data showing daily merchant and Inter-Bank transactions in foreign exchange for the period October 23 – October 27, 2023.   All Figures are in USD Millions     Position  Date  MERCHANT  INTER BANK  FCY / INR  FCY / FCY  FCY / INR  FCY / FCY   Spot  Forward  Forward  Cancel  Spot  Forward  Forward  Cancel  Spot  Swap  Forward  Spot  Swap  Forward

Government of India has announced the sale (issue/re-issue) of Government Securities, as detailed below, through auctions to be held on December 08, 2023.

RBI OPERATIONS@ Auction Date Tenor (Days) Maturity Date    Amount Current Rate / Cut off Rate C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF) I. Today's Operations 1. Fixed Rate 2. Variable Rate& (I) Main Operation (a) Repo    (b) Reverse Repo

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to The Hiriyur Urban Co-operative Bank Ltd., Hiriyur, Karnataka from the close of business on March 10, 2023 vide Directive No. BLR.DOS.SSMS.No. S2333/12.14.075/2022-23 dated March 09, 2023 for a period of six months, which was last extended up to December 10, 2023 vide Directive no. DOR.MON/D-66/12.23.075/2023-24 dated September 05, 2023. The Reserve Bank of India is satisfied that in the public interest, it is necessary to further extend the period of operation of the Directive beyond December 10, 2023

The rate of interest on Government of India Floating Rate Bond 2031 (FRB 2031) applicable for the half year December 07, 2023 to June 06, 2024 shall be 8.12 percent per annum. It may be recalled that FRB 2031 carries a coupon, which has a base rate equivalent to the average of the Weighted Average Yield of last three auctions (from the rate fixing day i.e. December 07, 2023) of 182 Day T-Bills, plus a fixed spread of One percent.

The Reserve Bank has today released data on Reserve Money for the week ended December 01, 2023.

Treasury Bills: Full Auction Result Auction Results 91 Days 182 Days 364 Days I. Notified Amount ₹7000 Crore ₹8000 Crore ₹9000 Crore II. Competitive Bids Received (i) Number 124 123 140 (ii) Amount ₹ 29059.650 Crore ₹ 19446.030 Crore ₹ 22416.875 Crore III. Cut-off price / Yield 98.2956 96.5487 93.3368

I. T-Bill 91 days 182 days 364 days II. Total Face Value Notified ₹7,000 Crore ₹8,000 Crore ₹9,000 Crore III. Cut-off Price and Implicit Yield at Cut-Off Price 98.2956 (YTM: 6.9549%) 96.5487 (YTM: 7.1690%) 93.3368 (YTM: 7.1585%) IV. Total Face Value Accepted ₹7,000 Crore ₹8,000 Crore ₹9,000 Crore Ajit Prasad Director (Communications) Press Release: 2023-2024/1417

(Amount in ₹ crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV)    563,473.73 6.75 3.00-7.00 I. Call Money    11,293.73 6.72 5.00-6.85 II. Triparty Repo 394,827.15    6.74 6.60-6.76 III. Market Repo 157,302.85 6.77 3.00-6.90 IV. Repo in Corporate Bond 50.00 7.00 7.00-7.00 B. Term Segment I. Notice Money** 73.50 6.46 6.20-6.80 II. Term Money@@ 371.00 - 6.80-7.05 III. Triparty Repo 26.70 6.70 6.65-6.70 IV. Market Repo    1,544.79 7.03 7.00-7.15 V. Repo in Corporate Bond    997.00 8.73 8.73-8.73

Sumerpur Mercantile Urban Co-operative Bank Limited, Sumerpur, Rajasthan was placed under All-Inclusive Directions from close of business on December 06, 2022 for a period of six months, subject to review, vide Directive dated December 05, 2022. The validity of the directions was last extended vide Directive dated September 05, 2023 for three months up to close of business on December 06, 2023, subject to review.

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to The Imperial Urban Cooperative Bank Ltd., Jalandhar vide Directive No. CDG.DOS.RSG.No.S1645/16-03-46/2022-23 dated March 9, 2023 for a period of six months up to close of business on September 10, 2023. The validity of the directions was further extended up to close of business on December 10, 2023. The Reserve Bank of India is satisfied that in the public interest, it is necessary to further extend the period of operation of the Directive beyond close of business on December 10, 2023.

December 05, 2023   State Government Securities - Full Auction Result   The result of the auction of State Government Securities held on December 05, 2023 is as under:  (Amount in ₹ Crore)

December 05, 2023 Result of Yield Based Auction of State Government Securities Sr. No State / UT Amount to be raised (₹ Crore) Amount Accepted (₹ Crore) Cut off Yield (%) Tenure (Year) 1 Andhra Pradesh 1000 1000 7.70 6 1000 1000 7.73 9 1000 1000 7.71 14 2 Bihar 2000 2000 7.74 15 3 Haryana 1000 1000 7.72 10